Factbox - Warren Buffett, Berkshire Hathaway at a glance

(Reuters) - Tens of thousands of people will descend on Omaha, Nebraska this weekend for the annual shareholder weekend for Berkshire Hathaway Inc (BRKa.N), the conglomerate that billionaire Warren Buffett has run since 1965.

Buffett calls the three-day weekend, the largest corporate gathering in the United States, “Woodstock for Capitalists.” It features shopping discounts, a five-kilometre run, the takeover of a shopping mall for a cocktail reception, and Berkshire’s annual meeting on May 5, broadcast on Yahoo Finance.

Buffett’s control of Berkshire: Berkshire took control of Berkshire on May 10, 1965. He had planned to sell back his shares in what was then a struggling textile company for $11.50 each. But he was angered when the term sheet showed a price of just $11.375 per share, and instead bought all the shares he could. The textile business closed in 1985.

Famous Buffett quotation: “Lose money for the firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless.” - Sept. 4, 1991 Congressional testimony about Salomon Inc, where Buffett became interim chairman to restore order after a Treasury auction bidding scandal.

Current wife: Astrid Menks, married on August 30, 2006

First wife: Susan, who died in 2004

Children: Susan, Howard and Peter

Philanthropy: Buffett has since 2006 donated roughly $27.6 billion to the Bill & Melinda Gates Foundation and four family charities. His Berkshire stock will go to philanthropy after he dies.

Home: Has lived in the same house since 1958. The 97-year-old five-bedroom, 2-1/2-bath home on 0.72 acres was assessed at $747,300 in 2018. (Source: Douglas County, Nebraska)

Diet: “If you told me that I would live one year longer ... if I’d eat nothing but broccoli and asparagus and everything my Aunt Alice wanted me to eat all my life, or I would eat everything I enjoyed eating including chocolate sundaes and Coca-Cola and steak and hash browns, you know, I would rather eat in a way I enjoy for my whole life than eat some other way and live another year.” (2017 annual meeting)

Buffett on acquisitions: “Berkshire’s goal is to substantially increase the earnings of its non-insurance group. For that to happen, we will need to make one or more huge acquisitions.” (Annual shareholder letter, Feb. 24, 2018)

Munger’s influence: Buffett has credited Munger, like him an admirer of famed value investor Benjamin Graham, with pushing him to seek out wonderful companies at fair prices, rather than fair companies at wonderful prices. “There’s nothing like the pain of being in a lousy business to make you appreciate a good one.” (2017 annual meeting)

Succession: Buffett, 87, and Munger, 94, have not publicly signalled any plans to retire. Berkshire’s board plan to quickly install a new CEO when Buffett retires, cannot continue or dies.

Possible CEO successors: Abel, 55, who led Berkshire Hathaway Energy, and Jain, 66, a veteran insurance executive, in January assumed day-to-day oversight of Berkshire’s non-insurance and insurance units, respectively. Buffett and Munger still handle major capital allocation decisions and investments.

Other possible successors: Combs and Weschler, who together recently managed $25 billion, may succeed Buffett as chief investment officer. Buffett’s eldest son Howard is expected to become non-executive chairman, and preserve Berkshire’s culture. Tracy Britt Cool, 33, chairs several Berkshire units and is chief executive of Pampered Chef.